Thursday, September 24, 2009

BAF Technologies Acquired By Clean Energy Fuels

Dallas-based BAF Technologies, which converts vehicles to run on natural gas, has been acquired. According to California-based Clean Energy Fuels, it will pay $8.3M, plus earnout, to acquire BAF. Around $3.8M of the purchase price will go towards outstanding debt owed by BAF Technologies to Clean Energy Fuels. BAF converts light duty vehicles to run on natural gas. BAF was founded in 1992.